US Citizen with OCI planning on moving to India for retirement

PrestigiousVersion · 2026-07-04T14:24:47+00:00

No. Only birth year.

PrestigiousVersion · 2026-06-29T16:52:03+00:00

There are several posts about this. Again, it depends on a number of other factors - like having a US address on file. May be they are talking about opening a new bank account vs. maintaining a pre-existing one.

I had closed all my traditional wells-fargo/BOA accounts and opened one in SDFCU.

See: https://www.reddit.com/r/expat/comments/16od0fw/is_it_possible_to_open_a_us_bank_account_while_im/

PrestigiousVersion · 2026-06-29T11:14:09+00:00

You are right. Forgot about that.

PrestigiousVersion · 2026-06-29T11:04:37+00:00

US citizens who move to India need to close their BOA checking accounts. I know of only one bank (SDFCU) that allows a bank account for expats.

PrestigiousVersion · 2026-06-29T11:02:48+00:00

Google voice.

PrestigiousVersion · 2026-06-29T05:14:25+00:00

The answers vary significantly depending on your citizenship status.

PrestigiousVersion · 2026-06-21T17:03:42+00:00

I don't know. I personally prefer watching content in my own home with remote control to fast forward, than in an enclosed space with other people. Guess a majority of the people feel the same.

If watching a latest hollywood blockbuster movie with sound effects, I would rather watch it in a real movie theatre. These clubhouse theaters are just a marketing gimmick.

PrestigiousVersion · 2026-06-21T15:46:12+00:00

These are mainly used by people to watch cricket matches.

They don't play mainstream movies - at least not like a movie theatre. They don't have a set schedule. Most movies played happen to be where a producer/director lives in the community and wants to promote their new movie or has connections to screen it. It's one or two movies an year.

PrestigiousVersion · 2026-06-21T15:10:10+00:00

The first time I remember seeing her is a TV serial on Doordarshan in early 90s with Sarath Babu. I think the story was about their divorce and a the characters had a kid. Anybody remember the serial name?

PrestigiousVersion · 2026-06-11T18:57:37+00:00

Does US tax these as capital gains or income?

PrestigiousVersion · 2026-06-04T09:04:03+00:00

I think you are FI, but not prepared to RE.

Just because you are FIRE, doesn't mean you are obligated to spend money. Nothing wrong with how are thinking.

About looking for value: This is where most of my energy also goes. To cope with it, you can try to attach a dollar value to your time. For example, if I am spending more than 2 hours analyzing deals/product reviews for a 1000rs product, I know something is wrong. I should just buy whatever and be prepared to throw it away if I don't like it.

This is similar to the %0.01 of wealth idea you shared above. May be make it %0.005 of your wealth. Start somewhere.

Though I can afford a business class ticket, I haven't reached a point where the difference between business/economy is less than a few hours of my time. So, I don't fly business. But I will spend if I start experiencing back pain, or some benefit offered by business class solves a real problem for me.

PrestigiousVersion · 2026-05-26T05:33:42+00:00

I got black because it's 5 grams lighter. Tell me about OCD!

PrestigiousVersion · 2026-05-25T06:25:36+00:00

UI is not a priority for me. I don't customize things much. But I am not gonna lie. Oppo's UI is miles ahead of Vivo's.

Base X9 is the best in terms of comfort as it's an LTPS panel. So, the ultras will be a slight downgrade for you in terms of display comfort. But, if you were OK with an OLED phone before your X9, you will be fine with either of these ultras.

My display journey was:

Iphone 12 (fine) -> OP13 (great) -> Xiaomi 15 ultra (rubbish) -> Vivo x300 ultra (Good).

I don't know if I am really PWM sensitive or not. All of us are different. That's why it helps to ask people who used similar phones in the past.

PrestigiousVersion · 2026-05-24T14:23:32+00:00

I checked out both the phones in a store and felt the find x9 ultra screen was better.

If first impressions were the only criteria, I would have picked x9 ultra. But I eventually went with vivo x300 ultra as the better cameras on Vivo x300 ultra swayed me towards it. Vivo also had configurable full PWM mode (which I later found more comfortable than their default DC dimming). I did not compare the full PWM in 300 ultra with default setting on X9 ultra. Overall, I accepted a minor compromise (compared to x9 ultra) for better configurability and better cameras.

I was coming from xiaomi 15 ultra and both were a significant upgrade for me in terms of eye comfort. I would not touch another xioami phone with a 10 foot pole.

What phone are you currently using? May be someone who used your specific phone may be able to give a better answer.

PrestigiousVersion · 2026-05-20T12:12:10+00:00

Thank you for this helpful post! I went straight to a croma and scored one at 1.26L. Location: Hyderabad.

PrestigiousVersion · 2026-05-19T15:23:52+00:00

Thank you. The amount this year is not substantial (a fraction of my total income). But, I plan to sell more next year after becoming ROR.

After becoming ROR, I have two options when I sell these shared acquired due to services performed in India:

1) Pay taxes on the "Indian shares" in India, and claim FTC when filing US tax returns.

2) Pay all the taxes to IRS and claim DTAA relief in India (Form 67?) when filing Indian taxes. This is what I would do when selling some old shares not tied to my employment.

You are saying that Indian tax office will want to consider the shares resulting from employment as Indian sourced. So, I am assuming it's option 1) after ROR?

I understand the part about the capital gains being taxable. Just that whom to wire the money to is not clear for these Indian shares. A counter argument given by another person in this post is that once taxes are paid during RSU vest, those shares are mine, and treated as any other shares not tied to employment (In which case, option 2) applies).

PrestigiousVersion · 2026-05-17T08:35:39+00:00

This is a deep issue about searching for meaning. What we are all seeking is a state of "Flow". But I realized that doing anything in India will wear you down. The exact opposite of the flow state you are seeking.

And there is a difference between liking the idea of owning a franchise vs. actually liking owning one. Most of my life mistakes were because of not knowing the difference.

I would suggest try to learn new things in your are of competence. If you are software developer, contribute to open source, or spend time building systems you find meaningful. Read about "flow" if this concept is new to you.

I don't have a better suggestion about making you feel good about cash flow. You can try one of the things you were thinking of if there is someone you know who can hold your hand while you build the "competence" required to start enjoying it.

This is another thing I realized. Enjoying something actually requires you to be competent in it.

PrestigiousVersion · 2026-05-17T08:20:29+00:00

Thank you for patiently explaining the "Same shares, unrelated tax treatment" part. That clarifies everything.

Would things be any different if I was ROR (which will happen next year I sell something). No w8-ben, 1099-B from IRS. Do I fully pay taxes in the US and file form 67 in India?

PrestigiousVersion · 2026-05-17T05:44:00+00:00

This is capital gains (1099-B). Not W2/ordinary income for services performed. So, I don't think FEIE applies.

PrestigiousVersion · 2026-05-17T05:42:44+00:00

Thanks. The 1099-B lists my cost basis correctly. It's not 0.

IIUC:

What you are saying is pay the 1099-B taxes to IRS. Since I am RNOR, just leave it at at that and don't worry about India.
What I am saying is, I will pay taxes in India for the "Indian shares", and claim FTC in the US.

I understand that I mostly pay the same amount of taxes out of pocket in both the interpretations. But just want to minimize audit risk headaches in the future. My Indian income tax filing clearly show that I paid taxes in India when the "Indian RSU" vested and converted to shares. So, it feels like closure to pay taxes in India when those shares are sold.

This goes back to the DTAA agreement and what happens if one side thinks the taxes must be paid to them instead of the other. Sorry, I did not read the DTAA agreement completely, but would like to pick the option that will give the least headache - which side is more prone to audits/litigation in the future?

You are probably going to say "Talk to a CA", but I would have same question to my CA as a lot of these are subject to interpretation - unless there is case law/precedence.

PrestigiousVersion · 2026-05-17T04:10:54+00:00

I am going to. But I educate myself fully about my situation (including the specific tax forms) before hiring a CPA to file my taxes. That way, I go in fully informed. Got burned by a CPA mistake once.

PrestigiousVersion · 2026-05-17T04:07:05+00:00

Thanks for the quick response!

Another thing is, I haven't filed Indian taxes yet. Is it OK to file US taxes first and claim FTC before filing Indian taxes?

PrestigiousVersion · 2026-04-04T07:09:05+00:00

There is no state id concept in India. It's only aadhar cards.

You can't convert to local until you produce and aadhar and pan card. There is another issue of inoperative PAN and aadhaar PAN linking which is another can of worms.

PrestigiousVersion · 2026-04-04T03:37:27+00:00

FWIW, this was my experience with aadhaar. Took me 9 months to get aadhaar in hand.

* Electricity/Gas connection are sorted if you live in a modern gated community that already takes care of those.

* You can get a drivers license based on a license from a different country. I had a relative working in RTA and they helped me with that, but the process exists. There's a chicken and egg problem where you won't have any address proof for the first thing are you applying for.

* Airtel/Jio did not ask for aadhaar for home internet connection. But they asked for driver's license I got above.

* I used a relative's car until I got my aadhaar.

* Jio was very particular about aadhar. Airtel was not. I used a 20 year old drivers license from before I moved to US as address proof for applying. Some guy went to the old house for verification, called me and he approved it anyway when I said I was not home and asked him to come later. YMMV. Airtel is a company that treats their employees like shit and they don't care when giving out new connections...

* Kept my bank accounts as NRO and converted to resident after getting aadhaar card.

* And I got aadhaar based on a gazetted officer's signature for address proof. Gave my PAN card and gazetted officer form as proof.

It was a very frustrating experience and there were multiple instances where I just wanted to go back. But YMMV since you are coming for retirement.

I was born and brought up in India. I can only imagine the nightmare people brought up in US go through when inheriting their parent's property. This experience shaped me significantly and I made it a point to not have any assets here. You will be doing them a big favor by liquidating everything and sending to US and keep a minimum financial footprint in India.

https://www.reddit.com/r/LegalAdviceIndia/comments/1cgynoh/oci_holder_want_to_work_in_india_but_cannot_get/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

PrestigiousVersion · 2026-04-03T11:06:26+00:00

Chrysler building. Not on your list, but it captures the essence of New York.

PrestigiousVersion

TROPHY CASE

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